Post Utme Afe Babalola University 2021 Economics Question 12

Practice objective / multiple choice question 12 from the 2021 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2021 Economics Objective / Multiple Choice
Question 12 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2021 • ECONOMICS • objective

A government imposes a tax on a firm's output. If the firm's supply curve shifts to the left, what happens to the firm's equilibrium price and quantity?

Answer Options

Correct Answer A. Price increases and quantity decreases
B. Price decreases and quantity increases
C. Price increases and quantity increases
D. Price decreases and quantity decreases
Correct Answer
A
Correct Option:
Price increases and quantity decreases

About This Question

This is Post Utme Afe Babalola University 2021 Economics Question 12. It is one of the objective questions from the 2021 Post Utme Afe Babalola University Economics examination.

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